February 15, 2018 - Industry News
Credit scores in the fourth quarter of 2017 were only a half a point higher than the median score recorded during the first quarter of 2009. And according to the Federal Reserve Bank of New York, 2017 auto loan origination volume reached the highest level it has ever observed.
Tags: auto finance, delinquencies, Federal Reserve Bank of New York, Great Recession, origination volume
A new partnership with CarStory gives Ford and Lincoln dealers who own FordDirect websites access to CarStory’s AI- and analytics-based market reports.
ACV Auctions has become a national corporate partner of the National Independent Automobile Dealers Association, giving member dealers access to ACV’s inventory management platform.
February 14, 2018 - Industry News
The F&I product provider issues a call to action to dealers, finance sources and its partners, warning that data security is one of the largest areas of concern in 2018.
Tags: breach, data security, digital retailing, EFG Companies, online F&I, technology
Cox Automotive has promoted Jim Williams to senior vice president of logistics, joining the company’s Inventory Solutions team.
February 13, 2018 - Industry News
BB&T announced its move about a week after the CFPB’s acting director stripped enforcement powers from the division responsible for pursuing discrimination cases in the auto finance arena. BB&T will officially make the switch on March 14.
Tags: auto finance, BB&T, CFPB, compliance, dealer participation, Mick Mulvaney
NIADA members can enjoy special pricing on Autosoft’s DMS offerings as part of a new partnership between the association and the software provider.
Registered dealers can now use Ally’s SmartAuction to access listings of off-lease vehicles from Nissan Motor Acceptance Corp. and Infiniti Financial Services.
February 12, 2018 - Industry News
The firm named Hyundai as the brand with the lowest cost to own and Acura as the lowest cost luxury brand. Top vehicles were selected in 22 categories.
Tags: Acura, Cost to Own, General Motors, Hyundai, Kelley Blue Book, Toyota
The company achieved its milestone in a third of the time it took to reach one million policies issued, which AUL did in 2011. Officials said 2017 was the vehicle service contract provider’s best performing year since its founding in 1990.
Tags: AUL Corp., F&I products, milestone, vehicle service contracts
The F&I product provider was named to the National Association of Business Resources’ ‘101 Best and Brightest Companies to Work for” and the Wilkes-Barre Times Leader’s ‘Northeastern Pennsylvania Best Places to Work” lists.
Tags: Best Places to Work, F&I products, GWC Warranty Corporation, vehicle service contract
February 8, 2018 - Industry News
Despite a 4.9% increase from a year ago, the Manheim Used Vehicle Value Index’s January reading was the lowest since last July.
Out of the three, Kia's Stinger spot featuring Steven Tyler generated the greatest lift in interest across Jumpstart Automotive's portfolio of publishers.
Tags: Jeep, Jumpstart Automotive, Kia Motors America, Kia Stinger, Lexus, Super Bowl
Carvoy Ignite was designed to benefit dealers and customers by facilitating the sale of new-vehicle leases online.
Tags: CarVoy, Online Marketplace, Online Shopping
February 7, 2018 - Industry News
Proprietary data released by Xtime shows dealership customers are booking appointments online at a furious pace, typically on mobile devices and often outside business hours.
The firm had expected a steeper decline due to replacement activity linked to last year’s hurricanes. Instead, Black Book saw fairly typical depreciation.
Tags: Black Book, Hurricane Harvey, Hurricane Irma, used-vehicle values, vehicle depreciation
The beginning of tax season saw stronger sales at auction, especially for mainstream car segments. Mid-size cars led the way in terms of value retention in the car segment, while minivans, full-size vans and small pickups saw no change last week.
Tags: Black Book, tax season, used-vehicle values, vehicle depreciation
Rapid Proactive Messaging is a new system designed to allow dealership sales associates to connect and communicate directly with interested customers from their mobile phones.
February 6, 2018 - Industry News
Tesla’s ‘Autopilot’ setting has once again drawn interest from regulators after a Model S plowed into a parked firetruck.
International nameplates outpaced the competition in U.S. new-vehicle sales last month, accounting for 57.4% of all transactions.
Data collected by Kelley Blue Book and Dealer.com shows which factories and brands benefited from their significant investments in Super Bowl airtime.
February 5, 2018 - Industry News
DealerFenix is a new system designed to improve process adherence and consistency, eliminate repetitive tasks, and automate activities.
February 1, 2018 - Industry News
The average transaction price for a new light vehicle sold in the U.S. was $36,270, down slightly from December but up 3.9% from the year-ago period.
According to the company, certain dealers who are parties to the Genesis Participation Agreement (GPA) and operate in “defined key markets” will be given first opportunity to apply for the Genesis franchise.
Tags: Dealer Network, facility upgrades, Genesis, Hyundai
January 31, 2018 - Industry News
On Wednesday, the D.C. Court of Appeals ruled 7-3 that a provision in the Dodd-Frank Act that says the CFPB director can only be removed for cause does not unconstitutionally constrain the president.
Tags: CFPB, compliance, Leandra English, Mick Mulvaney
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